Skip to content

BlackRock partners with Coinbase to offer crypto for institutional investors

BlackRock partners with Coinbase to offer crypto for institutional investors
Dino Kurbegovic

It seems that the biggest names in traditional finance are confident that cryptocurrencies have a bright future. 

Namely, BlackRock (NYSE: BLK) made a major push into the crypto space by partnering with the crypto exchange Coinbase (NASDAQ: COIN). 

This cooperation will link BlackRock’s institutional clients who already own assets on Coinbase into the Aladdin asset manager suite of tools, which enables BlackRock’s clients to manage their portfolios and asses risks on investments via various approaches the software enables, the crypto exchange announced on August 4.

Crypto democracy 

Former BlackRock executive predicted that crypto will have a place in everyone’s portfolio, therefore this move comes as a logical continuation of that paradigm. Meanwhile, Jim Cramer joined Andrew Ross Sorkin to discuss this new move on CNBC and whether it adds more value to Coinbase. 

“Yes, absolutely because some people feel that Coinbase is this rogue, that it’s actually an exchange, it’s not a company. But with discovering that it looks like the Senate wants this to be regulated by the CFTC, which is much more pro-Coinbase, it makes then sense that Larry Fink would want to deal with them.”

Cramer also added:

“It is kind of amazing, whether Coinbase is doing the right thing or not because they have 200 different coins that they list. And a lot of the coins are very suspect, even Robinhood wouldn’t take a lot of them. But, institutions want crypto, and the place to go is Coinbase.”   

COIN chart and analysis 

At the time of writing, COIN is up by 22.10% following the news of the partnership. After multiple bottoms have been noted on the daily chart, the change of momentum now seems superfluous to mention. 

The short-term trend is now very positive for the stock, and further gains should turn the long-term trend positive as well. 

Meanwhile, the previous resistance zone of $101.57 was broken and the new resistance line is at $125.22, while support is now at $81.84.    

COIN 20-50-200 SMA lines chart. Source. Finviz.com data. See more stocks here.

Meanwhile, both BlackRock and Coinbase will continue to work on this cooperation to improve the platform and integration with Aladdin, which should roll out functionalities in phases. Access to the platform will be given to institutions contracted with both parties. 

Buy stocks now with Interactive Brokers – the most advanced investment platform


Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.